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Candy Companies--Including Those that Have Moved Operations Out of the U.S.--Are Still Enjoying Healthy Sales
Fully produced report in MP3 format:
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(66 seconds)
-- How Will You Use This Story? --
(OPEN):
RECESSION OR NOT, PEOPLE ARE STILL EATING SWEET TREATS. AND,
THAT MEANS BIG BUSINESS FOR CANDY COMPANIES--PARTICULARLY THE FEW THAT
HAVE CLOSED U-S OPERATIONS IN ORDER TO TAKE ADVANTAGE OF CHEAPER LABOR
IN MEXICO, CANADA, THAILAND, AND CHINA. FORMER U-S-D-A
OFFICIAL, PETER BUZZANELL, HAS SPENT YEARS EXAMINING
CANDY-COMPANY FLIGHT--AND IS RELEASING A NEW STUDY, THIS WEEK, AT THE
26TH "INTERNATIONAL SWEETENER SYMPOSIUM". AMERICAN SUGAR
ALLIANCE ECONOMIST, JACK RONEY [AS IN "TONY"],
DISCUSSES ITS FINDINGS...
(RONEY):
"A WELL-KNOWN CANDY COMPANY BASED IN PENNSYLVANIA, FOR EXAMPLE,
WAS SPENDING NEARLY 19 DOLLARS, AN HOUR, ON ITS WORKERS. IN
MEXICO, THAT FELL TO 51 CENTS, AN HOUR. THE COMPANY IS ALSO
EXPERIENCING HEALTH-CARE EXPENSES THAT HAVE DROPPED BY 97-PERCENT, BY
MOVING TO MEXICO. AND, THEY'RE SAVING ON BUILDING RENTS, AS WELL.
THE ONE VARIABLE THAT HASN'T CHANGED, SOUTH OF THE BORDER, IS THE COST
OF RAW INGREDIENTS LIKE SUGAR."
(CLOSE):
RONEY ADDS THAT THE COMPANY IN QUESTION HASN'T LOWERED ITS PRICES AT THE
GROCERY STORE--AND HAS REPORTED A 20-PERCENT PROFIT INCREASE, FOR THE
FIRST QUARTER OF 2009. THE BUZZANELL STUDY ALSO NOTES
THAT--DESPITE THE COMPANY'S PROFITS--FEWER U-S CANDY MANUFACTURERS
APPEAR TO BE FLEEING AMERICA.
For
soundbites from many of those participating in the 26th International
Sweetener Symposium,
click here.
